N.Y. Comp. Codes R. & Regs. tit. 2 § 155.18

Current through Register Vol. 46, No. 50, December 11, 2024

Section 155.18 - Program document

(a) The administrator shall provide the chief executive officer of each sponsor with a copy of the State-administered defined benefit volunteer firefighter service award program document. Such program document shall include a copy of the trust agreement and the adoption or transfer agreement, as amended.

(b) The administrator shall prepare, maintain and may amend the program document. The program document shall set forth the rights and obligations of sponsors, volunteer firefighters, participants and beneficiaries of participants, and procedures for the administration of State- administered defined benefit volunteer firefighter service award programs. The program document and any amendments thereto shall be consistent with the provisions of article 11-A of the General Municipal Law and the provisions of this Part, as amended. If the program document is prepared by an administrative service agency or a financial organization, the program document and any amendments thereto shall not take effect until approved by the Comptroller.

(c) The Comptroller shall prepare and/or amend the trust agreement pursuant to section 216-c of the General Municipal Law. The Comptroller may, however, direct the program trustee to prepare and/or amend the trust agreement subject to review and approval by the Comptroller. The Comptroller shall provide to the administrator a copy of the trust agreement and any amendments thereto.

(d) The adoption or transfer agreement shall be prepared by the administrator and the sponsor as provided in section 155.5 of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 155.18